Wall Street analysts expect that Denny’s Corp (NASDAQ:DENN) will report $108.75 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Denny’s’ earnings, with the highest sales estimate coming in at $110.21 million and the lowest estimate coming in at $107.20 million. Denny’s reported sales of $151.41 million in the same quarter last year, which indicates a negative year over year growth rate of 28.2%. The business is scheduled to issue its next quarterly earnings results on Tuesday, May 5th.
According to Zacks, analysts expect that Denny’s will report full-year sales of $455.26 million for the current fiscal year, with estimates ranging from $454.30 million to $456.08 million. For the next financial year, analysts forecast that the firm will report sales of $453.38 million, with estimates ranging from $452.30 million to $454.59 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Denny’s.
Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Tuesday, February 11th. The restaurant operator reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.06. The firm had revenue of $113.84 million during the quarter, compared to the consensus estimate of $109.17 million. Denny’s had a net margin of 18.80% and a negative return on equity of 34.15%.
A number of equities research analysts recently commented on the stock. TheStreet downgraded shares of Denny’s from a “b-” rating to a “c+” rating in a research report on Wednesday, October 30th. Oppenheimer reaffirmed a “buy” rating and issued a $27.00 target price on shares of Denny’s in a report on Tuesday. Maxim Group raised shares of Denny’s from a “hold” rating to a “buy” rating and increased their target price for the company from $23.00 to $26.00 in a report on Wednesday, December 4th. ValuEngine cut shares of Denny’s from a “hold” rating to a “sell” rating in a report on Thursday. Finally, SunTrust Banks began coverage on shares of Denny’s in a report on Tuesday, December 10th. They issued a “hold” rating and a $21.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $24.67.
In other Denny’s news, VP Stephen C. Dunn sold 58,332 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $19.51, for a total value of $1,138,057.32. Following the completion of the transaction, the vice president now directly owns 36,017 shares of the company’s stock, valued at $702,691.67. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 6.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of DENN. FMR LLC increased its stake in shares of Denny’s by 102.6% during the 1st quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock worth $43,874,000 after purchasing an additional 1,211,020 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Denny’s by 41.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,887,605 shares of the restaurant operator’s stock worth $37,526,000 after purchasing an additional 553,094 shares in the last quarter. State Street Corp increased its stake in shares of Denny’s by 3.5% during the 4th quarter. State Street Corp now owns 1,291,727 shares of the restaurant operator’s stock worth $25,680,000 after purchasing an additional 44,271 shares in the last quarter. Millennium Management LLC increased its stake in shares of Denny’s by 206.8% during the 3rd quarter. Millennium Management LLC now owns 1,076,609 shares of the restaurant operator’s stock worth $24,509,000 after purchasing an additional 725,669 shares in the last quarter. Finally, Chartwell Investment Partners LLC increased its stake in shares of Denny’s by 0.7% during the 4th quarter. Chartwell Investment Partners LLC now owns 1,033,954 shares of the restaurant operator’s stock worth $20,555,000 after purchasing an additional 7,050 shares in the last quarter. 90.35% of the stock is owned by institutional investors.
NASDAQ:DENN traded up $0.15 during mid-day trading on Friday, reaching $20.15. The stock had a trading volume of 590,340 shares, compared to its average volume of 424,026. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 2.87 and a beta of 0.08. Denny’s has a twelve month low of $16.74 and a twelve month high of $23.88. The business has a 50 day simple moving average of $20.63 and a 200 day simple moving average of $21.34.
Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 26, 2018, it operated 1,709 franchised, licensed, and company restaurants, including 1,578 restaurants in the United States; and 131 in Canada, Puerto Rico, Mexico, New Zealand, the Philippines, Honduras, Costa Rica, the United Arab Emirates, Guam, the United Kingdom, El Salvador, and Guatemala.
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